There's still three months to go till Colbert takes over hosting The Late Show on CBS, but the former Colbert Report host couldn't wait to skewer Donald Trump in the wake of the businessman's announcement that he's running for president in 2016.

In a video posted on CBS Tuesday, Colbert, who sported an oversize comb-over, was wheeled up to a podium in "a giant human trashcan," and in his best booming Trump-like voice made a rambling, hilarious speech.

[YOUTUBE "rFtam2eAkfo"] After a long winter hibernation, Stephen Colbert has returned to us. And while he brought his Colbeard with him, you should take one last look at it while you can.

Joking that "CBS is making me shave it off because Tom Selleck's mustache has a non-compete clause," Colbert, 51, slowly buzzes off his beard in the video, going from liberal arts professor to "un-Hitler" to Amish to "half-Wolverine." It's all in preparation for him taking over hosting duties on The Late Show in September.

He doesn't step into his role as host of the Late Show until Sept. 8, but a clean-shaven Stephen Colbert proved he's the man for the job as he entertained advertisers at Wednesday's CBS upfront presentation in New York City

"You want young eyeballs and not just the kind Rupert Murdoch buys on the black market," he joked on stage at Carnegie Hall.

Sorry, Jimmy, Jimmy, Stephen, James and the rest of the late-night gang.

There's a new girl in town who's crashing the boys' club. And she's not afraid to make jokes about your private parts.

Former Daily Show correspondent Samantha Bee is getting a late-night talk show on TBS, and she hits the ground running with this amusingly crass promo – first revealed Wednesday at Turner's Upfronts presentation in New York.

The landscape of late night has inarguably changed since David Letterman began hosting Late Night in 1982 and then Late Show in 1993, but he's not ending his 33-year run on a bitter note.

In an interview with The New York Times, Letterman, 68, is not upset about how the format he helped create has changed so drastically with the entry of energetic, Internet-savvy hosts like Jimmy Kimmel and Jimmy Fallon.

"They didn't push me out," he said. "I'm 68. If I was 38, I'd probably still be wanting to do the show," Letterman added, going on to say that the format – "an older guy in a suit" – certainly still seemed "viable" when Jay Leno was still on late night. However, after Leno left The Tonight Show last year, Letterman was suddenly "surrounded by Jimmys," he told the Times.

Chicago's Second City comedy group has long been an incubator for young comedians. Many famous funny people have come up through its ranks, including Tina Fey, Julia Louis-Dreyfus, Jane Lynch and the now-Oscar-nominated actor Steve Carell.